The Purchase of Land (Ireland) Act 1885 (48 & 49 Vict. c.73), commonly known as the Ashbourne Act is an Act of the Parliament of the United Kingdom, passed by a Conservative Party government under Lord Salisbury. It extended the terms that had been achieved under the Kilmainham Treaty. It set up a £5 million fund and any tenant who wanted to buy land could do so. One could take a loan from the government and would pay it back in monthly installments. The Act was effected by, and informally named for, Edward Gibson, 1st Baron Ashbourne, the then Lord Chancellor of Ireland.